Common use of Managers Have No Exclusive Duty to Company Clause in Contracts

Managers Have No Exclusive Duty to Company. The Manager shall not be required to manage the Company as their sole and exclusive function and they may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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Managers Have No Exclusive Duty to Company. The A Manager shall not be required to manage the Company as their his or its sole and exclusive function and they he or it (or any Manager) may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any a Manager or to the income or proceeds derived therefrom. The A Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 6 contracts

Samples: Operating Agreement, Operating Agreement (Bluerock Residential Growth REIT, Inc.), Operating Agreement (Bluerock Residential Growth REIT, Inc.)

Managers Have No Exclusive Duty to Company. The Unless otherwise expressly provided hereunder or under any other agreement entered into between the Company and such person, no Manager shall not be required to manage the Company as their his sole and exclusive function function, and they he may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither and neither the Company nor any the Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any such Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 5 contracts

Samples: Operating Agreement (Gamble's Hill Tredegar, LLC), Operating Agreement (Gamble's Hill Tredegar, LLC), Operating Agreement (Gamble's Hill Tredegar, LLC)

Managers Have No Exclusive Duty to Company. The Manager Managers shall not be required to manage the Company as their sole and exclusive function and they may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive subject, in the case of an Manager that is employed by any Group Member, to the terms of his employment agreement with the business of the Companysuch Group Member. Neither the Company nor any Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any Manager or to the income or proceeds derived therefrom. The Manager Managers shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (U.S. Shipping Partners L.P.), Limited Liability Company Agreement (U.S. Shipping Partners L.P.), U.S. Shipping Partners L.P.

Managers Have No Exclusive Duty to Company. The No Manager shall not be required to manage the Company as their its sole and exclusive function function, and they the Managers may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the The Company nor any Member shall not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any Manager or to the income or proceeds derived therefromfrom such investments or activities. The No Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement (Commonwealth Telephone Enterprises Inc /New/), Limited Liability Company Operating Agreement (Commonwealth Telephone Enterprises Inc /New/), Limited Liability Company Operating Agreement (Commonwealth Telephone Enterprises Inc /New/)

Managers Have No Exclusive Duty to Company. The No Manager shall not be required to manage the Company as their such Manager's sole and exclusive function function, and they any Manager may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any a Manager or to the income or proceeds derived therefrom. The A Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 3 contracts

Samples: Operating Agreement (Juliana Mining Co Inc), Operating Agreement (Juliana Mining Co Inc), Juliana Mining Co Inc

Managers Have No Exclusive Duty to Company. The Manager Managers shall not be required to manage the Company as their sole and exclusive function and they may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any Manager the Managers or to the income or proceeds derived therefrom. The Manager Managers shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 3 contracts

Samples: Operating Agreement (Nuverra Environmental Solutions, Inc.), Operating Agreement (Nuverra Environmental Solutions, Inc.), Operating Agreement (Badlands Power Fuels, LLC)

Managers Have No Exclusive Duty to Company. The Manager shall not be required to manage the Company as their his sole and exclusive function and they he (or any Manager) may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any the Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 2 contracts

Samples: Operating Agreement (Cannaisseur Group Inc.), Operating Agreement (Nelnet Inc)

Managers Have No Exclusive Duty to Company. The Manager shall not be ------------------------------------------ required to manage the Company as their his or her sole and exclusive function and they (or any Manager) may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any the Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 1 contract

Samples: Operating Agreement (Universe2u Inc)

Managers Have No Exclusive Duty to Company. The Manager Managers shall not be required to manage the Company as their sole and exclusive function and they may have other business interests and may engage in other activities in addition to and in competition with those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any Manager or to the income or proceeds derived therefrom. The Manager Managers shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 1 contract

Samples: Sales and Services Agreement (Nobility Homes Inc)

Managers Have No Exclusive Duty to Company. The A Manager shall not be required to manage the Company as their his sole and exclusive function and they he (or any other Manager) may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any a Manager or to the income or proceeds derived therefrom. The A Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 1 contract

Samples: Operating Agreement (Jondex Corp)

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Managers Have No Exclusive Duty to Company. The A Manager shall not be required to manage the Company as their the Manager’s sole and exclusive function and they any Manager may have other business interests and may engage in other activities in addition to those relating to the Company, even if such other business interests or activities are competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any the Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Companyventures.

Appears in 1 contract

Samples: Operating Agreement

Managers Have No Exclusive Duty to Company. The Manager shall not be required to manage the Company as their its sole and exclusive function and they may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive provided, however, that such other activity shall not compete with or in any way conflict with the business interests of the Company. Neither the Company nor any Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or the duty which the Manager owes to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company, except to the extent disclosed in the Offering Material.

Appears in 1 contract

Samples: Operating Agreement (Us Solartech Inc)

Managers Have No Exclusive Duty to Company. The Manager Managers shall not be required to manage the Company as their sole and exclusive function and they may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member member shall have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of any Manager the Managers or to the income or of proceeds derived therefrom. The Manager Managers shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 1 contract

Samples: Operating Agreement (Browsesafe Com Inc)

Managers Have No Exclusive Duty to Company. The Manager Managers shall not be required to manage the Company as their sole and exclusive function and they a Manager may have other business interests and may engage in other activities in addition to those relating to the Company, even if provided that the pursuit of other ventures and other activities directly competitive with the business of the Company. Neither Company by the Company nor any Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the CompanyManagers is hereby prohibited.

Appears in 1 contract

Samples: Ects a Scenic Technology Co Inc

Managers Have No Exclusive Duty to Company. The A Manager shall not be required to manage the Company as their his or her sole and exclusive function and they he or she may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any the Manager or to the income or proceeds derived therefrom. The Manager shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cooke Bros Holdings LTD)

Managers Have No Exclusive Duty to Company. The Manager Managers shall not be required to manage the Company as their sole and exclusive function and they may have other business interests and may engage in other activities in addition to those relating to the Company, even if competitive with the business of the Company. Neither the Company nor any Member shall have any right, by virtue of this Agreement, to share or participate in such other investments or activities of any Manager the Managers or to the income or proceeds derived therefrom. The Manager Managers shall incur no liability to the Company or to any of the Members as a result of engaging in any other business or venture, even if competitive with the business of the Company.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (New Gaming Capital Partnership)

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